The process of buying a new home or refinancing is exciting and can be time consuming. You are not only worried about finding the right home, but you are also trying to lock-in your rate at the “perfect” time. The process can be exhausting.
Choosing the Right Title Agent is Important
The person that orchestrates your closing and provides vital safeguards against fraud and wrongdoing is your title insurance agent. Choosing the right title insurance agent can make the difference between a good experience and a disaster. Unfortunately, by the time consumers are ready to select a settlement agent, most are worn out and feel pressured to choose and therefore, their “right” to choose is given to their real estate agent or their mortgage lender. Many real estate agents and lenders have your best interest in mind and will refer you to a title agent who is knowledgeable and who they know will provide you, the consumer, with exceptional service.
Not Everyone has Your Best Interest at Heart
Unfortunately, there has been a proliferation of real estate agents and lenders owning or having a financial interest in a title insurance agency. In these instances, the real estate agent or lender might be receiving a reward for steering you to the affiliated title agency. Your best interest is not their priority.
Protect yourself by shopping for title insurance early
Shopping is the best way to protect yourself from inappropriate charges and junk fees. The best time to shop for title insurance is before you have found the perfect home or have chosen a lender for your refinance. The flurry of forms and the apparent urgency of the process might stop you from spending time carefully considering your options for a key part of your transaction. Don’t allow yourself to be rushed through an important decision.
You have a right to select your title insurance provider. Protect your rights and avoid conflicts by telling your lender, real estate agent or builder “I want to pick my own title agent.”
Coming next: How to shop for a title insurance agent.
